Tax Planning Guide for FY 2015-16

We are releasing the eBook on Tax Planning for FY 2015-16. This is a short 44 slide power point presentation which gives the details of tax saving sections and investments available to individual tax payers.

The eBook covers the following income tax sections available for individual tax payers:

1. Section 80C/80CCC/80CCD

These 3 are the most popular sections for tax saving and have lot of options to save tax. The maximum exemption combining all the above sections is Rs 1.5 lakhs. 80CCC deals with the pension products while 80CCD includes Central Government Employee Pension Scheme.

2. Section 80CCD(1B) – Investment in NPS

Budget 2015 has allowed additional exemption of Rs 50,000 for investment in NPS. We have done a complete analysis and concluded that it would be beneficial for you to discard this benefit and invest after tax money in a good equity mutual fund.

Deduction Up to Rs 25,000 (50% of amount invested) is allowed if you make investment in preapproved stocks and mutual funds in Rajiv Gandhi Equity Savings Scheme (RGESS). This is available to first time equity investors subject to certain conditions.

12. Donations to Charitable Institutions (Section 80GGC)

Along with the tax saving options, it also has details about all the common salary components and their tax treatment. This section can help you to plan your salary components in case your company offers such facility.

We hope that this eBook would help you in understanding, planning and saving taxes.

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The website is not affiliated to any company, agent or brokers for selling/ recommending investments. All the information in the blog is for educational and informational purpose only. Please consult a qualified financial planner and do your own due diligence before making any investment decision.